'Marina Bay Sands was clearly the most beautiful. It sits directly on the waterfront, which allows us to play with the presentation of the artworks and create an element of surprise for visitors' - Mr Lorenzo Rudolf, on why he is setting up the art fair in Singapore

For years, Singapore delegations who visited the prestigious Art Basel art fair tried to woo its director to set up a similar fair here.

But Mr Lorenzo Rudolf, who helmed Art Basel from 1991 to 2000, was not interested.

Things have changed and the 50-year-old Swiss national is now putting together a high-end art fair here with the backing and support of the Economic Development Board and the Singapore Tourism Board.

Neither organisation would disclose the budget for the annual event, but it will start in January next year and it will be held at the Marina Bay Sands integrated resort.

The fair also has the backing of the National Arts Council and the National Heritage Board.

Speaking to Life! at the Pan-Pacific Hotel, Mr Rudolf says that Singapore and the Asian market are ready for a fair to rival the world's best art fairs.

Asked why he turned down Singapore's earlier overtures, he says: 'I did not see the point of re-creating an Art Basel in Singapore. If collectors and art lovers wanted to see an Art Basel, they would go there. What was needed was something with a unique identity and branding.'

The art fair in the little Swiss town of Basel, nestled on the banks of the River Rhine between France and Germany, has been the focus of the art world for years.

About 800 art galleries from around the world vie for a place at the fair each year, but fewer than 300 are chosen.

The Singapore fair, to be held from Jan 12 to 16 next year, will feature 100 to 120 of the world's top galleries. They are expected to bring in the works of top artists.

The names of the galleries and the artists that will be featured are still being confirmed, but novices and seasoned art collectors alike will have the chance to see the works of modern masters such as Japanese artist Takashi Murakami and Indian artist Subodh Gupta.

Speaking of the venue, Mr Rudolf says: 'Marina Bay Sands worked for us because of its location. If you want to do an event this size, the venue has to be appropriate. There are not too many venues which can accommodate a fair of this size and Marina Bay Sands was clearly the most beautiful. It sits directly on the waterfront, which allows us to play with the presentation of the artworks and create an element of surprise for visitors.'

Beyond the venue, he feels Singapore's location too will have a big part to play in the success of this fair.

He says: 'I am confident of Singapore's ability to emerge as the hub for contemporary art in the Asian region. Singapore has a lot of advantages, right from its location and its infrastructure to its understanding of what is happening in the contemporary art world.'

He also feels the time is right for a major art fair here. And he speaks from experience.

Apart from being the former director of Art Basel and the creator of Art Basel Miami Beach, he also has a strong Asian connection.

In 2006, he helped create a new international art fair in Shanghai. Called ShContemporary, it attracted 35,000 visitors with its very first edition in 2007 and has emerged as one of the largest art events in the Asia-Pacific region.

He says: 'I felt this was the right time to set up an art fair here because a lot has changed. China and India are merely the beginning. There are lots more interesting developments happening in countries such as Indonesia, Philippines and Thailand.

'So what we are creating is an event that will serve as a platform to show the entire world what is going on in Asia. In terms of significance, some people may dub it the Art Basel of Asia but I can assure you that contentwise, it will not be a copy.'

Beyond the numbers, such as the number of people the fair is likely to attract and the revenue it will generate, he feels the fair will be an important platform bridging the Eastern and Western art worlds.

'It is not just about the bottom-line. I am more interested in the dialogue such an event generates and how that dialogue furthers the cause of art,' he says.